Left Brain Wealth Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,743 shares of the e-commerce giant's stock after selling 3,097 shares during the period. Amazon.com comprises approximately 2.8% of Left Brain Wealth Management LLC's holdings, making the stock its 8th largest position. Left Brain Wealth Management LLC's holdings in Amazon.com were worth $6,420,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of AMZN. Western Wealth Management LLC boosted its holdings in Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock worth $26,660,000 after buying an additional 1,297 shares during the period. Momentous Wealth Management Inc. bought a new position in Amazon.com in the 4th quarter worth $749,000. Barnes Dennig Private Wealth Management LLC bought a new position in Amazon.com in the 1st quarter worth $514,000. Segall Bryant & Hamill LLC boosted its holdings in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC bought a new position in Amazon.com in the 4th quarter worth $12,014,000. Institutional investors own 72.20% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on AMZN shares. UBS Group reissued a "buy" rating and set a $271.00 price objective (up previously from $249.00) on shares of Amazon.com in a report on Monday, July 28th. Rosenblatt Securities increased their price objective on shares of Amazon.com from $288.00 to $297.00 and gave the company a "buy" rating in a report on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company increased their price objective on shares of Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $262.45.
Read Our Latest Report on AMZN
Insider Buying and Selling
In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 25,101,037 shares of company stock valued at $5,674,726,368 over the last ninety days. Insiders own 10.80% of the company's stock.
Amazon.com Trading Up 0.1%
Shares of Amazon.com stock traded up $0.17 on Tuesday, hitting $221.47. 37,169,192 shares of the company traded hands, compared to its average volume of 44,928,891. The stock's 50 day moving average price is $219.94 and its 200-day moving average price is $208.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a market cap of $2.36 trillion, a PE ratio of 33.76, a PEG ratio of 1.50 and a beta of 1.31.
Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company's revenue was up 13.3% on a year-over-year basis. Equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.
Amazon.com Company Profile
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Free Report)
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
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